Tokyo being billed as 'Recovery Olympics' -- but not for all    'Maybe I'm not in my job on Monday,' says West Ham boss    Leicester show no sign of giving up title chase    FM Shoukry: Egypt seeks to promote relations with Namibia, Somalia    UK supports Egypt in developing 1st action plan on women, peace, security    Art Alert: Celebrating 71 years of the Universal Declaration of Human Rights with film screenings    'Happy Journey' play tours Egypt starting with Tanta    Art Alert: Film Joker to screen at Tahrir Cultural Centre    Protesters hang gunman in Baghdad square: Officials    Hundreds protest in central Algiers against disputed election    U.S. stocks climb ahead of Trump meeting with trade advisors    Etisalat Misr invests EGP 50bln in Egypt since 2007    Debt: Who benefits and who bears the burden?    Algerians are choosing a new president in contentious poll    China says in close communication with U.S. on trade as fresh tariffs loom    Fed keeps rates on hold, points to ‘favorable' economic outlook next year    Egypt's Sisi attends second day of Aswan forum    Egyptian Weightlifting Federation's officials referred to prosecution over doping crisis – ministry    Egyptian-US air transport agreement revamped    U.S. sanctions will not affect Ankara's use of Russian S-400s: Turkey    Egypt looks to develop cooperation with Vietnam – minister    Atletico beat Lokomotiv 2-0 to advance in Champions League    Traditional soup broths have anti-malaria effects    Apple's CEO spotted sampling Singapore's foods in neighborhood market    Mohamed Salah the most mentioned football player in Egypt on Twitter    Dark Waters    All about the future    Egypt's Ahly close to signing former Zamalek, Aves player Kahraba    Here is the full list of Golden Globes 2020 nominations    Health insurance system to be launched in Upper Egypt, South Sinai in March    Even being big, burly one needs his mother    Egypt's Cabinet denies reports on increasing Jan. train fares    Adam Sandler threatens to make ‘so bad' movie if he doesn't win Oscar    Egypt's Tahrir Square among top Reuters photos of a decade    Egypt names 16 new governors ahead of anticipated Cabinet reshuffle    Egypt's MPs back potential return of information minister post in expected reshuffle    Court sentences six to death, 41 to lifetime imprisonment violence related case    Trump says he would release Mideast peace plan after Israeli elections    ACWA Power compares 3 bids to supply production units for Luxor power station    What do you know about gold alloying?    NBE announces EGP 2.5m prizes for handball youth teams for their world achievements    Jennifer Lopez evokes Egyptian outrage post her North Coast performance    Al-Sisi honours Egypt's scholars on Science Day    IS claims responsibility for suicide bombing killing 63 in Afghan wedding    Political parties gear up for parliamentary, senate, local elections    Unprecedented Glory: Egypt win Men's U-19 World Handball Championship    12th National Egyptian Theatre Festival fuel up public theatre art scene    Ministry of Environment has a plan for "black clouds season"    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.





Gold eases as optimism around U.S.-China talks improves risk appetite
Published in Amwal Al Ghad on 22 - 10 - 2019

Gold was largely muted on Tuesday, weighed down by buoyant Asian shares that cheered progress in trade talks between the United States and China, but found support from a lack of clarity in the negotiation details.
Spot gold was little changed at $1,484.12 per ounce as of 0423 GMT.
U.S. gold futures shed 0.1 percent to $1,487.10 per ounce.
China and the United States have achieved some progress in their trade talks, Chinese Vice Foreign Minister Le Yucheng said on Tuesday, adding that as long as both sides respected each other, no problem could not be resolved.
Le's comments came a day after U.S. President Donald Trump spoke of optimism about a deal, while White House adviser Larry Kudlow said tariffs on Chinese goods scheduled for December could be withdrawn if talks go well.
This cheered markets and pushed the benchmark S&P 500 stock index within striking distance of a record high on Monday. MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.1 percent on Tuesday.
"Equities markets are in a risk-on mode, and there seems to be a lack of support for gold prices and precious metals," said Margaret Yang Yan, a market analyst at CMC Markets, adding that fears of a no-deal Brexit had ebbed and progressing U.S.-China trade talks gave markets some relief.
In the latest on the Brexit proceedings, British Prime Minister Boris Johnson's parliamentary battle starts again on Tuesday, when lawmakers will debate and vote on the Withdrawal Agreement Bill, the detailed legislation that puts his exit deal into British domestic law.
"The (slip in prices) does not mean gold will continue to decline, because the market sees the Fed cutting another 25 basis points in its October meeting. For now it still looks like a healthy correction," Yan said.
Investors await a U.S. Federal Reserve meeting at the end of the month that could offer further signs of monetary easing.
Lower interest rates reduce the opportunity cost of holding non-yielding bullion.
Amongst other precious metals, silver slipped 0.1 percent to $17.55 an ounce, snapping a four-day gaining streak. Platinum dropped 0.5 percent to $883.36 and palladium gained 0.6 percent to $1,768.63 an ounce.
Source: Reuters


Clic here to read the story from its source.